1 00:00:13,440 --> 00:00:17,800 Speaker 1: Let's talk about TikTok Okay, TikTok is blatant copycatting. So 2 00:00:17,920 --> 00:00:20,079 Speaker 1: I like TikTok and I feel awkward when someone's like 3 00:00:20,120 --> 00:00:22,840 Speaker 1: to do this. It's trending, do a duet Lizzo e 4 00:00:23,120 --> 00:00:26,480 Speaker 1: berries on ice coconut water, which is called nature cereal, 5 00:00:26,560 --> 00:00:28,440 Speaker 1: and now we're also as to copy it. And so 6 00:00:28,520 --> 00:00:30,880 Speaker 1: my social media girl was like, do something with your 7 00:00:30,920 --> 00:00:33,320 Speaker 1: coffee and say just fucking try it, because I guess 8 00:00:33,640 --> 00:00:35,479 Speaker 1: somebody had said just sucking try it. I think it 9 00:00:35,560 --> 00:00:38,720 Speaker 1: might have been Lizzo also, So I don't I don't know. 10 00:00:38,920 --> 00:00:41,120 Speaker 1: I just I don't have a copy. I don't like copying. 11 00:00:41,159 --> 00:00:42,920 Speaker 1: And I said it before about Molly since who I 12 00:00:42,960 --> 00:00:45,120 Speaker 1: love and she's so sweet. I've laughed so hard at 13 00:00:45,159 --> 00:00:47,600 Speaker 1: some of the things she's done, and she's been copying 14 00:00:47,640 --> 00:00:49,720 Speaker 1: someone else. But when you go to do stand up, 15 00:00:49,720 --> 00:00:51,640 Speaker 1: for example, you would never use someone else's jokes. So 16 00:00:51,680 --> 00:00:53,680 Speaker 1: I'm sort of confused by it. And it's just so 17 00:00:53,680 --> 00:00:57,840 Speaker 1: funny because TikTok, it's just it feels a little disingenuous, 18 00:00:57,840 --> 00:00:59,880 Speaker 1: like I just feel weird there. I was like, Hi, 19 00:01:00,920 --> 00:01:06,760 Speaker 1: take some blueberry cereal cyanide eyelashes and Mscara mix it 20 00:01:06,800 --> 00:01:11,840 Speaker 1: in a blender and you have COVID cocktail. Like it's 21 00:01:11,920 --> 00:01:16,280 Speaker 1: just I don't understand. Everyone's just making like mash oreos. 22 00:01:16,760 --> 00:01:19,560 Speaker 1: Mix them in a mug, blow up your microwave and 23 00:01:19,600 --> 00:01:23,440 Speaker 1: it's a mud kick. Like it's just very over the top, 24 00:01:23,560 --> 00:01:27,880 Speaker 1: like Saccarin e sweet and I like couples dancing together. 25 00:01:28,800 --> 00:01:33,440 Speaker 1: But it's started become this place of like dorky mom comedy, 26 00:01:33,480 --> 00:01:36,039 Speaker 1: which I love. It's every teenager rolling their eyes and 27 00:01:36,040 --> 00:01:39,200 Speaker 1: every mom like playing you know, rappers delight on ten 28 00:01:39,360 --> 00:01:43,200 Speaker 1: and music and embarrassing their kid or scrubbing the kitchen. 29 00:01:43,280 --> 00:01:45,280 Speaker 1: I like it because it's a release from COVID and 30 00:01:45,319 --> 00:01:47,480 Speaker 1: that's nice. But it's just I guess I'm just old. 31 00:01:47,600 --> 00:01:49,200 Speaker 1: I guess I'm just old. I don't know, it's just 32 00:01:49,240 --> 00:01:51,600 Speaker 1: weird for me. Like today, the girl who was doing 33 00:01:51,600 --> 00:01:53,920 Speaker 1: my social I did this thing in the backyard with 34 00:01:53,960 --> 00:01:56,880 Speaker 1: the song these Joset Loyal, and I just was in 35 00:01:56,960 --> 00:01:59,280 Speaker 1: a dress because I was made up already, and so 36 00:01:59,320 --> 00:02:02,200 Speaker 1: I started swing in the hose of this hose Loyal, 37 00:02:02,280 --> 00:02:04,640 Speaker 1: which I thought was funny, Like that's clever, it's original, 38 00:02:04,760 --> 00:02:08,080 Speaker 1: it's dumb. I thought of it outside and then the 39 00:02:08,160 --> 00:02:11,840 Speaker 1: social person said to me, so good morning. We can 40 00:02:11,880 --> 00:02:17,480 Speaker 1: post this today on TikTok with something like loyalty is everything. 41 00:02:18,280 --> 00:02:20,560 Speaker 1: I guess because the hose, this hose isn't loyal. But 42 00:02:20,639 --> 00:02:28,960 Speaker 1: like okay, or hosing down the place or thirsty Thursday, 43 00:02:29,080 --> 00:02:32,160 Speaker 1: that makes me uncomfortable, Like I don't like anything of 44 00:02:32,360 --> 00:02:35,840 Speaker 1: hosing down the place. I'm so literal. Like the point is, 45 00:02:36,240 --> 00:02:38,600 Speaker 1: it feels so kitchy. It's like back in my day 46 00:02:38,600 --> 00:02:39,880 Speaker 1: when I used to produce events and it was like, 47 00:02:39,960 --> 00:02:42,840 Speaker 1: let's do my teeny bar and have a cigar roller person, 48 00:02:42,919 --> 00:02:45,160 Speaker 1: but like let's do a sacateini and let's do a 49 00:02:45,200 --> 00:02:47,560 Speaker 1: Pinka tini and let's do everything a teeny. I just 50 00:02:47,600 --> 00:02:50,320 Speaker 1: like O cringe worthy. Everyone's like copying teeny and I 51 00:02:50,360 --> 00:02:53,000 Speaker 1: know it sounds crazy, but I just don't like like things. 52 00:02:53,639 --> 00:02:56,480 Speaker 1: I like original things. I don't like things that are things. 53 00:02:56,880 --> 00:02:59,240 Speaker 1: Oh no, it's a thing right now. I'll say once 54 00:02:59,240 --> 00:03:01,560 Speaker 1: in a while, mood, But if it's the dog like drooling, 55 00:03:01,600 --> 00:03:03,240 Speaker 1: and I cringe when I even do it. But what 56 00:03:03,280 --> 00:03:07,120 Speaker 1: are those things like woke or mood or work or 57 00:03:07,480 --> 00:03:12,400 Speaker 1: lurk or luke or luke Luke and Elida Luke. What's 58 00:03:12,400 --> 00:03:15,839 Speaker 1: a word a vibe? But like things can be a vibe, 59 00:03:15,840 --> 00:03:19,440 Speaker 1: like that's yes, But if you say dope, that's dope. 60 00:03:20,080 --> 00:03:22,959 Speaker 1: Like what I know someone like very waspy and white 61 00:03:23,000 --> 00:03:25,360 Speaker 1: who wears Valentino, Who's like, no, it's dope. I'm like, 62 00:03:25,480 --> 00:03:27,959 Speaker 1: what the fuck do you know? Whoever first said dope 63 00:03:28,040 --> 00:03:31,560 Speaker 1: was not wearing Valentino. That can promise you that I 64 00:03:31,680 --> 00:03:35,120 Speaker 1: like original things. You make it a fun like yas quinn, 65 00:03:36,280 --> 00:03:40,120 Speaker 1: yas honey. We had a hysterical photographer that came to 66 00:03:40,120 --> 00:03:41,880 Speaker 1: shoot me last week and she was really funny and 67 00:03:41,920 --> 00:03:48,160 Speaker 1: we did enjoy her. For some reason. She up going yes, yes, girl, yes, 68 00:03:48,680 --> 00:03:51,280 Speaker 1: like two seconds away from saying work it, you better 69 00:03:51,320 --> 00:03:56,880 Speaker 1: work it girl. Gucci cover girl fashion, and I was like, 70 00:03:57,040 --> 00:03:59,000 Speaker 1: I am not a cover girl. I don't look like 71 00:03:59,040 --> 00:04:01,640 Speaker 1: somebody in the Guccia and I find myself fairly attractive 72 00:04:01,680 --> 00:04:03,520 Speaker 1: in makeup. I could look good. I could definitely like 73 00:04:03,560 --> 00:04:05,800 Speaker 1: lock it down. But like once, I was like, girl, 74 00:04:06,640 --> 00:04:10,800 Speaker 1: you are professional. Like everyone is like a character of 75 00:04:10,840 --> 00:04:13,480 Speaker 1: themselves now with all this stuff that they're saying, right, 76 00:04:14,040 --> 00:04:20,760 Speaker 1: what are other ones? Um? Pre nups? Pre nups is 77 00:04:20,920 --> 00:04:23,520 Speaker 1: what Hi, are you. You're engaged, so maybe this is 78 00:04:23,560 --> 00:04:25,680 Speaker 1: a personal matter you want to discuss it another time. 79 00:04:27,960 --> 00:04:31,320 Speaker 1: That was your inside voice. This is outside, we're outside now, 80 00:04:31,760 --> 00:04:34,479 Speaker 1: we're outside now, so I guess, yeah, so you're getting 81 00:04:34,520 --> 00:04:36,800 Speaker 1: married and we will talk about prenups an other day. 82 00:04:36,839 --> 00:04:38,400 Speaker 1: Let's talk about prenups. But I didn't know that. The 83 00:04:38,480 --> 00:04:41,159 Speaker 1: kids were saying that's dope and pre nups. Like, I 84 00:04:41,200 --> 00:04:44,000 Speaker 1: don't know, am I missing something? I feel like anybody 85 00:04:44,040 --> 00:04:45,760 Speaker 1: else have any issues they want to talk about in 86 00:04:45,800 --> 00:04:49,279 Speaker 1: their personal life. That was really funny. She's like prenups. 87 00:04:49,360 --> 00:04:52,640 Speaker 1: I'm like, okay, while we're at it, menopause. I just 88 00:04:52,680 --> 00:04:54,520 Speaker 1: walked into the wrong room. I'm sorry, this is the 89 00:04:54,560 --> 00:04:57,240 Speaker 1: wrong classroom. I'm sorry. I think you just opened the road. Yeah, 90 00:04:57,279 --> 00:04:59,719 Speaker 1: this is this is at cohome economics. You're supposed to 91 00:04:59,720 --> 00:05:03,840 Speaker 1: be in algebra two doors to the left. Okay, we're 92 00:05:03,880 --> 00:05:07,400 Speaker 1: talking about lingo. That is derivative. But you have a 93 00:05:07,440 --> 00:05:09,400 Speaker 1: personal matter that we should discuss. And I have a 94 00:05:09,520 --> 00:05:11,599 Speaker 1: name of a good therapist also who helps me along 95 00:05:11,600 --> 00:05:16,000 Speaker 1: the way. That was hysterical. That made me laugh. I 96 00:05:16,080 --> 00:05:20,000 Speaker 1: was since a prenups. I'm like, m mmm, hi, we're 97 00:05:20,040 --> 00:05:24,200 Speaker 1: in a different class at this time. UM, well, anyone, 98 00:05:24,320 --> 00:05:25,919 Speaker 1: I know I don't make sense, but I think I 99 00:05:25,960 --> 00:05:28,200 Speaker 1: do make sense. But it doesn't really matter. What's the difference. 100 00:05:28,200 --> 00:05:30,039 Speaker 1: It's a rant. Let me know what you think, please, 101 00:05:30,080 --> 00:05:33,840 Speaker 1: because you guys have been loving these rants, so you know, 102 00:05:34,320 --> 00:05:38,080 Speaker 1: I just keep freewheeling. My guest today is Doug Wood, 103 00:05:38,200 --> 00:05:41,560 Speaker 1: CEO of Tommy Bahama, famous for casual men's wear but 104 00:05:41,600 --> 00:05:44,839 Speaker 1: also women's clothing and restaurants. He joined the company in 105 00:05:44,880 --> 00:05:49,560 Speaker 1: two thousand one, is chief operating officer CEOO before becoming 106 00:05:49,600 --> 00:05:53,240 Speaker 1: the president during the two thousand eight recession, and then 107 00:05:53,279 --> 00:05:57,320 Speaker 1: became the chief executive officer CEO just a few years later. 108 00:05:57,640 --> 00:05:59,960 Speaker 1: Today we talk about the challenges of running a company 109 00:06:00,040 --> 00:06:02,760 Speaker 1: need during a crisis, the importance of pivoting your company 110 00:06:02,760 --> 00:06:05,520 Speaker 1: with the times while staying true to your brand, and 111 00:06:05,560 --> 00:06:10,120 Speaker 1: how gut instincts sometimes trump data. It's a great episode 112 00:06:10,160 --> 00:06:11,880 Speaker 1: that I think you're going to love. I think the 113 00:06:11,960 --> 00:06:15,160 Speaker 1: part about him having to deal with a recession being 114 00:06:15,200 --> 00:06:19,440 Speaker 1: in the retail apparel and restaurant business is really valuable. 115 00:06:19,480 --> 00:06:21,920 Speaker 1: I think the fact that it's a pandemic and he's 116 00:06:21,960 --> 00:06:26,839 Speaker 1: also dealing in a retail hospitality space it's just someone 117 00:06:26,880 --> 00:06:29,279 Speaker 1: to listen to who had to decide how to turn 118 00:06:29,720 --> 00:06:31,480 Speaker 1: a whole ship. You know, it's more than a billion 119 00:06:31,480 --> 00:06:34,720 Speaker 1: dollar business. He had to shift. So we've had to 120 00:06:34,760 --> 00:06:38,320 Speaker 1: do that in our smaller businesses, startups or just at 121 00:06:38,320 --> 00:06:41,520 Speaker 1: home businesses or at work, and it's good to hear 122 00:06:41,600 --> 00:06:43,359 Speaker 1: someone who's done it in a major way with a 123 00:06:43,360 --> 00:06:45,640 Speaker 1: lot of people watching, with a lot of pressure. That 124 00:06:45,680 --> 00:06:54,680 Speaker 1: can help even uh small entrepreneurs. How are you great? 125 00:06:55,720 --> 00:06:57,840 Speaker 1: So are you in Florida? I see a palm tree? 126 00:06:59,560 --> 00:07:01,440 Speaker 1: Is that? Where are your office is? This is the 127 00:07:01,440 --> 00:07:05,560 Speaker 1: worldwide headquarters of Tommy Bahama is in Seattle, Washington. Is 128 00:07:05,600 --> 00:07:08,120 Speaker 1: that fair that you don't get to be in Naples 129 00:07:08,320 --> 00:07:10,520 Speaker 1: or like drinking a pina colada on the beach of 130 00:07:10,560 --> 00:07:13,280 Speaker 1: the Gulf Coast. It's actually probably the best thing for 131 00:07:13,400 --> 00:07:17,200 Speaker 1: us because it allows you to dream of warm, sunny 132 00:07:17,240 --> 00:07:21,440 Speaker 1: places as you're in the rain. It really inspires great 133 00:07:21,480 --> 00:07:24,600 Speaker 1: creative because we can't be there, so boy do we 134 00:07:24,760 --> 00:07:27,760 Speaker 1: dream about being there? Wait, so it really inspires the 135 00:07:27,800 --> 00:07:34,119 Speaker 1: fantasy life that Tommy Bahama is the threat of tom Bahamas. Okay, yeah, 136 00:07:34,320 --> 00:07:36,760 Speaker 1: because you really can't go outside most of the time 137 00:07:36,800 --> 00:07:39,720 Speaker 1: because it's cold and wet, and so we think about 138 00:07:39,760 --> 00:07:42,240 Speaker 1: it a lot. You know, Uh, when it's not COVID, 139 00:07:42,280 --> 00:07:44,320 Speaker 1: we do get out in the field a lot. So 140 00:07:45,080 --> 00:07:48,480 Speaker 1: how many people does the brand Tommy Bahama employ I 141 00:07:48,520 --> 00:07:51,760 Speaker 1: don't mean, you know, people actually manufacturing clothes, etcetera. But 142 00:07:51,920 --> 00:07:55,760 Speaker 1: the internal brand, our employee base has fluctuated a little 143 00:07:55,760 --> 00:07:58,480 Speaker 1: bit because of two thousand twenty in total right now, 144 00:07:58,560 --> 00:08:02,000 Speaker 1: and say we were about probably somewhere we're between hundred 145 00:08:02,080 --> 00:08:05,520 Speaker 1: or three thousand employees, which is down from where we 146 00:08:05,520 --> 00:08:08,360 Speaker 1: were like a year ago. Um, but you know, it 147 00:08:08,440 --> 00:08:10,880 Speaker 1: has a lot to do with having a hundred and 148 00:08:10,920 --> 00:08:15,720 Speaker 1: sixty stores and fifteen restaurants and now seven Marlin bars, 149 00:08:15,720 --> 00:08:19,720 Speaker 1: so a lot of people in the field, and we're 150 00:08:19,760 --> 00:08:22,920 Speaker 1: all over the United States, and here in Seattle, I 151 00:08:22,920 --> 00:08:27,200 Speaker 1: think we employed probably somewhere close to probably people. So 152 00:08:27,400 --> 00:08:31,880 Speaker 1: in corporate it's but you're talking about restaurants and stores, etcetera. Okay, 153 00:08:32,480 --> 00:08:38,199 Speaker 1: so the Tommy Bahama brand is effectively relax. It's like relax, casual, 154 00:08:38,640 --> 00:08:41,440 Speaker 1: don't take yourself too seriously, just chill. Is that what 155 00:08:41,480 --> 00:08:43,920 Speaker 1: it is? Yeah? I mean, we tried to create an 156 00:08:43,960 --> 00:08:48,760 Speaker 1: exceptional island lifestyle that inspires you to relax and that 157 00:08:48,880 --> 00:08:53,199 Speaker 1: is our mission, especially today as people are a lot 158 00:08:53,240 --> 00:08:55,640 Speaker 1: more casual. We actually feel like we're in such a 159 00:08:55,679 --> 00:08:58,120 Speaker 1: great spot. People are coming to us. And also we're 160 00:08:58,120 --> 00:09:01,120 Speaker 1: a happy brand. We try to lean into the idea 161 00:09:01,240 --> 00:09:03,880 Speaker 1: that hey, let's have some fun and let's not take 162 00:09:03,880 --> 00:09:06,600 Speaker 1: each other so seriously. Well, it's a fun environment and 163 00:09:06,679 --> 00:09:18,920 Speaker 1: fun place to work. Who has been the target audience? 164 00:09:18,920 --> 00:09:22,040 Speaker 1: How is that shifting? Who makes up most of your customer? 165 00:09:22,400 --> 00:09:24,679 Speaker 1: I've been with the company now twenty years. Company has 166 00:09:24,679 --> 00:09:27,560 Speaker 1: been a business for twenty eight years, and when I 167 00:09:27,600 --> 00:09:30,760 Speaker 1: came to the company, we were a very min centric 168 00:09:30,880 --> 00:09:35,800 Speaker 1: brand that was targeted at basically our wholesale customers. And really, 169 00:09:35,960 --> 00:09:39,079 Speaker 1: you know, this idea of hey, we're at this guest 170 00:09:39,120 --> 00:09:44,760 Speaker 1: who's probably forty and up, and that has fundamentally changed, 171 00:09:44,880 --> 00:09:48,520 Speaker 1: and it's something that we have done consciously. I'm absolutely 172 00:09:49,160 --> 00:09:52,319 Speaker 1: have retooled the company so that we're trying to appeal 173 00:09:52,360 --> 00:09:56,640 Speaker 1: to her and start to become her brand. And that's 174 00:09:56,640 --> 00:10:00,559 Speaker 1: in everything that we do, and it's you know, retooling 175 00:10:00,760 --> 00:10:06,440 Speaker 1: our women's apparel, swimwear, food and beverage. We still believe 176 00:10:06,480 --> 00:10:09,480 Speaker 1: our target is forty enough, but I want to Halo 177 00:10:09,559 --> 00:10:12,959 Speaker 1: down to thirty five. You've been there for twenty years 178 00:10:13,000 --> 00:10:16,400 Speaker 1: of time in Bahama. You've taken it from what I 179 00:10:16,400 --> 00:10:18,560 Speaker 1: guess was two hundred million dollars a year when you 180 00:10:18,600 --> 00:10:21,160 Speaker 1: got there, and what is it now two thousand and nineteen. 181 00:10:21,240 --> 00:10:24,319 Speaker 1: I think we have a six eighty million dollar number. Okay, 182 00:10:24,400 --> 00:10:27,040 Speaker 1: you know we're like one point three billion dollars as 183 00:10:27,040 --> 00:10:30,680 Speaker 1: a brand. Wow. So some of the things that you've 184 00:10:30,679 --> 00:10:34,040 Speaker 1: talked about are sort of who are you targeting and 185 00:10:34,080 --> 00:10:37,480 Speaker 1: how are you targeting them? And you know, you could 186 00:10:37,520 --> 00:10:39,200 Speaker 1: say you want to have twenty year olds in the 187 00:10:39,200 --> 00:10:41,600 Speaker 1: brand and seventy year olds, but you have a target 188 00:10:41,640 --> 00:10:44,160 Speaker 1: and why do we have a target? Because if you 189 00:10:44,200 --> 00:10:46,200 Speaker 1: try to please everybody, you end up pleasing nobody. You 190 00:10:46,240 --> 00:10:48,079 Speaker 1: have to know who you're talking to and how you're 191 00:10:48,120 --> 00:10:50,920 Speaker 1: talking to them. So you were describing that you're forty 192 00:10:50,920 --> 00:10:53,920 Speaker 1: plus brand, and you know, I'm pretty much I've been 193 00:10:53,960 --> 00:10:56,720 Speaker 1: like eighteen to forty nine. Obviously I skew older and 194 00:10:56,760 --> 00:10:59,800 Speaker 1: I have people's kids and daughters, but but I haven't educated, 195 00:11:00,240 --> 00:11:03,960 Speaker 1: you know, successful customer. And people have said to me, 196 00:11:04,040 --> 00:11:07,640 Speaker 1: why don't you do skinny guy? Which is because I'm 197 00:11:07,640 --> 00:11:10,000 Speaker 1: talking to women doesn't mean that I don't have their husbands. 198 00:11:10,000 --> 00:11:11,600 Speaker 1: And I've I've been on the cover of Forbes, so 199 00:11:11,640 --> 00:11:13,800 Speaker 1: I have a lot of business people and like I said, 200 00:11:13,840 --> 00:11:16,160 Speaker 1: women's husband. But I am a brand that is about 201 00:11:16,160 --> 00:11:18,800 Speaker 1: practical solutions for women. My new brand, Bethany is about 202 00:11:18,800 --> 00:11:22,240 Speaker 1: elevated solutions for women, and I'm talking to women. You've 203 00:11:22,280 --> 00:11:26,080 Speaker 1: been talking to men living that leisurely Tommy Bahama lifestyle. 204 00:11:26,120 --> 00:11:28,320 Speaker 1: Now you're bringing in women because obviously women are the 205 00:11:28,320 --> 00:11:31,240 Speaker 1: purchasers of the household, and you even have a language 206 00:11:31,240 --> 00:11:33,040 Speaker 1: for that. You know, when we're on HS and we 207 00:11:33,080 --> 00:11:35,760 Speaker 1: talked about her, what does she want, what is she wearing, 208 00:11:36,040 --> 00:11:38,800 Speaker 1: what is she like? And you talked about her, and 209 00:11:38,840 --> 00:11:41,320 Speaker 1: you also talked about your customer as a guest. So 210 00:11:41,440 --> 00:11:43,800 Speaker 1: for people building brands like you have to figure out 211 00:11:43,840 --> 00:11:45,719 Speaker 1: who you're talking to, you, how you're talking to them, 212 00:11:45,760 --> 00:11:47,880 Speaker 1: what the language is. And there's a whole language and 213 00:11:47,920 --> 00:11:50,560 Speaker 1: a culture in a business, even if it's the smallest 214 00:11:50,600 --> 00:11:52,920 Speaker 1: business of three people, you still have to understand what 215 00:11:53,040 --> 00:11:56,920 Speaker 1: the language is. So you, Douglas, you have on the 216 00:11:56,960 --> 00:11:59,400 Speaker 1: average of forty year old plus customer you want to 217 00:11:59,400 --> 00:12:02,679 Speaker 1: get to thirty five. Do you talk about her, and 218 00:12:02,720 --> 00:12:06,600 Speaker 1: you talk about your customer as guests. So how do 219 00:12:06,679 --> 00:12:09,120 Speaker 1: you make that shift? How are you speaking to people? 220 00:12:09,280 --> 00:12:11,680 Speaker 1: How are you making these changes a as a result 221 00:12:11,720 --> 00:12:14,320 Speaker 1: of the pandemic, but not really just that, just as 222 00:12:14,320 --> 00:12:17,280 Speaker 1: a business person? How do you make these big decisions 223 00:12:17,280 --> 00:12:21,720 Speaker 1: that small business owners can really respond to and learn from. 224 00:12:21,800 --> 00:12:23,880 Speaker 1: I'll break it down in a couple of ways, and 225 00:12:23,960 --> 00:12:27,440 Speaker 1: i'll answer the guest question. First, we got into restaurants 226 00:12:27,480 --> 00:12:30,360 Speaker 1: really early when the brand started. Our first restaurant open 227 00:12:30,400 --> 00:12:34,000 Speaker 1: in nine in Naples, Florida. But it had such a 228 00:12:34,080 --> 00:12:39,040 Speaker 1: profound impact on our culture because you know, with customers, 229 00:12:39,040 --> 00:12:41,520 Speaker 1: you're trying to sell something to people. When you have 230 00:12:41,600 --> 00:12:44,360 Speaker 1: a guest, you invite your guests into your failing and 231 00:12:44,400 --> 00:12:48,199 Speaker 1: you describe a culture. Every business needs a culture, culture, 232 00:12:49,120 --> 00:12:52,680 Speaker 1: and we have a super strong culture around. Let's figure 233 00:12:52,720 --> 00:12:55,120 Speaker 1: out what our guests needs, how they want to interact 234 00:12:55,160 --> 00:12:57,800 Speaker 1: with us, and then let's make that happen, and how 235 00:12:57,800 --> 00:13:01,240 Speaker 1: can we exceed their expectation When you have a brand 236 00:13:01,280 --> 00:13:04,440 Speaker 1: like Tommy Bahama, you said it, most people know us 237 00:13:04,520 --> 00:13:09,680 Speaker 1: for men's Hawaiian shirts, a very thin awareness of the brand. 238 00:13:10,120 --> 00:13:13,920 Speaker 1: I know and everybody knows me as skinny Girl, which 239 00:13:13,920 --> 00:13:16,080 Speaker 1: I don't own the cocktail portion anymore. I own the 240 00:13:16,120 --> 00:13:17,880 Speaker 1: rest of the entire brand. But everyone knows me for 241 00:13:17,880 --> 00:13:21,000 Speaker 1: the margarita and for being a train wreck on the housewife. 242 00:13:21,080 --> 00:13:24,160 Speaker 1: So when you guys are building brands or business is important. 243 00:13:24,600 --> 00:13:26,520 Speaker 1: How you start is sort of how you end up. 244 00:13:26,559 --> 00:13:28,840 Speaker 1: And it's hard to get away from that. You know, 245 00:13:28,880 --> 00:13:31,400 Speaker 1: Kentucky Fried Chicken is KFC. It's hard to get away 246 00:13:31,400 --> 00:13:33,600 Speaker 1: from Kentucky Fried Chicken, which is still how I see it. 247 00:13:33,760 --> 00:13:36,920 Speaker 1: You could do ten billion dollars in LAMB shares and 248 00:13:36,960 --> 00:13:39,880 Speaker 1: you're known for the Hawaiian shirts and you're known for men, 249 00:13:39,920 --> 00:13:42,680 Speaker 1: and you know what percentage of your customers women now 250 00:13:43,640 --> 00:13:47,640 Speaker 1: about of our product, right, So he's still known as 251 00:13:47,679 --> 00:13:50,720 Speaker 1: the man's company and you're trying to break out. Yeah, 252 00:13:50,760 --> 00:13:53,360 Speaker 1: and I don't run away from the Hawaiian shirt thing. 253 00:13:53,679 --> 00:13:57,240 Speaker 1: It's crazy from a pr standpoint, Brutal marks can walk 254 00:13:57,280 --> 00:13:59,920 Speaker 1: off a plane wearing a Hawaiian shirt and the cat 255 00:14:00,120 --> 00:14:02,400 Speaker 1: will say, Bruno Mars were in time, Bahama, And I'll 256 00:14:02,400 --> 00:14:05,360 Speaker 1: look at this, that's not time Obama. You know if 257 00:14:05,559 --> 00:14:09,079 Speaker 1: that happened every single day, And so I love that. 258 00:14:09,120 --> 00:14:11,520 Speaker 1: I mean, think about the number of companies that aren't 259 00:14:11,520 --> 00:14:15,080 Speaker 1: known for anything, and that's actually been part of our strategy. Hey, 260 00:14:15,080 --> 00:14:22,280 Speaker 1: I'm always going to have really wonderful tropical inspired where However, 261 00:14:22,600 --> 00:14:24,840 Speaker 1: that is such a small part of our business. So 262 00:14:24,880 --> 00:14:26,560 Speaker 1: when you come to us, I'm gonna have the best 263 00:14:26,600 --> 00:14:29,760 Speaker 1: damn Hawaiian shirt you've ever seen in the selection you want, 264 00:14:30,080 --> 00:14:33,080 Speaker 1: that's just part of our DNA. This is a great 265 00:14:33,160 --> 00:14:36,840 Speaker 1: question in relationships and in business. What do women want? 266 00:14:36,920 --> 00:14:39,920 Speaker 1: And how do you target women? Right now? In the world, 267 00:14:40,400 --> 00:14:44,720 Speaker 1: so many things are changing, conversations are changing, social consciousness 268 00:14:44,800 --> 00:14:48,520 Speaker 1: is real. What do women want right now? Overall? We 269 00:14:48,600 --> 00:14:52,200 Speaker 1: did focus groups probably five years ago, all over the 270 00:14:52,240 --> 00:14:56,280 Speaker 1: country and I would sit in on these groups of men, women, 271 00:14:56,760 --> 00:14:59,000 Speaker 1: men that bought our products, men who didn't buy our product, 272 00:14:59,080 --> 00:15:01,560 Speaker 1: women who bought our women who didn't buy a product, 273 00:15:01,960 --> 00:15:05,160 Speaker 1: and what came at which just astonished me with on 274 00:15:05,200 --> 00:15:09,640 Speaker 1: the on the female side was age groups thirty five 275 00:15:09,720 --> 00:15:14,280 Speaker 1: to sixty five. Every woman wanted to basically be appropriate 276 00:15:14,400 --> 00:15:17,800 Speaker 1: for their age. They want to be sexy, They definitely 277 00:15:18,000 --> 00:15:21,800 Speaker 1: want to be on trend in style, very fashionable. But 278 00:15:21,880 --> 00:15:25,160 Speaker 1: they also had this awareness of Hey, I'm I'm forty 279 00:15:25,200 --> 00:15:28,000 Speaker 1: and I need to start dressing like this. And for us, 280 00:15:28,720 --> 00:15:32,920 Speaker 1: that right away centered us on this idea that, Okay, 281 00:15:33,080 --> 00:15:35,240 Speaker 1: if we're really targeting a forty year old, we better 282 00:15:35,280 --> 00:15:37,040 Speaker 1: have a fit model that's a forty year old and 283 00:15:37,120 --> 00:15:40,040 Speaker 1: not a twenty year old, okay, because a six is 284 00:15:40,080 --> 00:15:43,080 Speaker 1: not a six. And so we really focused it on 285 00:15:43,280 --> 00:15:47,160 Speaker 1: fit and and wanted to make sure that she knows 286 00:15:47,240 --> 00:15:48,760 Speaker 1: that when she comes to us, not only do we 287 00:15:48,800 --> 00:15:51,440 Speaker 1: have great quality, we have great fit. But the third 288 00:15:51,480 --> 00:15:54,360 Speaker 1: thing we had to do is you better be on trend. 289 00:15:54,680 --> 00:15:56,800 Speaker 1: You better be focused on what you have in the 290 00:15:56,840 --> 00:16:00,000 Speaker 1: store is what's going on out there in the market 291 00:16:00,000 --> 00:16:02,600 Speaker 1: a place. So it's still got to be easy, breezy 292 00:16:02,600 --> 00:16:05,480 Speaker 1: Timmy Bahama, but you better see those elements that you 293 00:16:05,520 --> 00:16:09,080 Speaker 1: see on trend in the marketplace. That's like an HSN 294 00:16:09,160 --> 00:16:12,880 Speaker 1: customer to hs N has a similar demo to you. 295 00:16:13,000 --> 00:16:14,960 Speaker 1: If you ever want to learn something, learn about hs N. 296 00:16:15,120 --> 00:16:17,280 Speaker 1: It's a world we can I've sold twenty five thou 297 00:16:17,480 --> 00:16:20,520 Speaker 1: pairs of sunglasses in a few hours recently. I mean, 298 00:16:20,560 --> 00:16:23,240 Speaker 1: think about that, it's crazy, and they think about what 299 00:16:23,440 --> 00:16:25,960 Speaker 1: she wants and focus groups also, and that brings me 300 00:16:26,000 --> 00:16:29,040 Speaker 1: to ask you about data versus gut instant because we 301 00:16:29,080 --> 00:16:31,360 Speaker 1: all have done so many focus groups and research that 302 00:16:31,520 --> 00:16:34,320 Speaker 1: still don't tell the true picture. When we realized that 303 00:16:34,400 --> 00:16:37,520 Speaker 1: the women's business was going to have to be, you know, 304 00:16:37,640 --> 00:16:44,120 Speaker 1: our biggest shift, we completely reorganized and change the complexity 305 00:16:44,120 --> 00:16:46,240 Speaker 1: of our business. So, in other words, I brought women 306 00:16:46,240 --> 00:16:49,560 Speaker 1: in to run the business and run the product side 307 00:16:49,560 --> 00:16:53,280 Speaker 1: of our business. And so from a gut standpoint, I 308 00:16:53,280 --> 00:16:55,240 Speaker 1: had to get you know, it's opposed to way the 309 00:16:55,280 --> 00:17:00,520 Speaker 1: company started with really three really smart men'swear guys. We 310 00:17:00,640 --> 00:17:03,840 Speaker 1: are really driven from women right now. So I will 311 00:17:03,920 --> 00:17:07,280 Speaker 1: say that I've got lots of access to data and 312 00:17:07,359 --> 00:17:12,000 Speaker 1: sometimes it affects what we're doing. And then it's just 313 00:17:12,240 --> 00:17:17,639 Speaker 1: basically really smart product and marketing people that see, wow, 314 00:17:17,680 --> 00:17:22,600 Speaker 1: we have a green field here of opportunity. Yeah, I know, 315 00:17:22,680 --> 00:17:25,480 Speaker 1: I can go get data. Let's not ignore what's right 316 00:17:25,520 --> 00:17:28,199 Speaker 1: in front of us right now. Sometimes people don't know 317 00:17:28,200 --> 00:17:30,800 Speaker 1: what they want until they see it. Like relationships too, 318 00:17:31,080 --> 00:17:33,359 Speaker 1: Sometimes people don't know that they would want that type 319 00:17:33,400 --> 00:17:35,800 Speaker 1: of person until they meet that type of person who's 320 00:17:35,840 --> 00:17:38,440 Speaker 1: not their quote unquote type. So if you're an entrepreneur, 321 00:17:38,520 --> 00:17:41,600 Speaker 1: you need to go with your gut. In addition to listening, 322 00:17:41,640 --> 00:17:44,240 Speaker 1: to research and listening to smart people around you who 323 00:17:44,240 --> 00:17:46,719 Speaker 1: know what they're talking about. I completely agree. You know, 324 00:17:46,840 --> 00:17:50,320 Speaker 1: the world is trying to tell you that it's only 325 00:17:50,359 --> 00:17:54,560 Speaker 1: about data, and big data is a huge part analytics 326 00:17:54,600 --> 00:17:58,239 Speaker 1: of driving a lot of decisions now, especially in the 327 00:17:58,280 --> 00:18:03,000 Speaker 1: world of passion and food. Uh, it's really just having 328 00:18:03,320 --> 00:18:08,359 Speaker 1: talent surrounding you and listen to them and once again 329 00:18:08,760 --> 00:18:11,440 Speaker 1: you know what your brand stands for and say, hey, 330 00:18:11,480 --> 00:18:14,680 Speaker 1: you know, that's a really great idea with somebody else, 331 00:18:15,320 --> 00:18:17,240 Speaker 1: but for us, we're going to keep it right here. 332 00:18:17,840 --> 00:18:20,720 Speaker 1: Brands have to adhere to the line. You could color 333 00:18:20,760 --> 00:18:24,320 Speaker 1: outside the lines sometimes, but to take some chances, I 334 00:18:24,320 --> 00:18:26,600 Speaker 1: don't mean doing two chances. But you have to know 335 00:18:26,720 --> 00:18:28,199 Speaker 1: your brand. You have to be able to say it 336 00:18:28,240 --> 00:18:30,520 Speaker 1: in a sentence, in an elevator pitch, and you have 337 00:18:30,600 --> 00:18:33,480 Speaker 1: to adhere to it because sometimes the shiny objects look 338 00:18:33,520 --> 00:18:36,560 Speaker 1: good and the money looks good and opportunities look good, 339 00:18:36,560 --> 00:18:38,240 Speaker 1: but then you're kind of getting off the road and 340 00:18:38,280 --> 00:18:40,920 Speaker 1: you get so lost and you have to stick to 341 00:18:40,960 --> 00:18:43,280 Speaker 1: your brand. I've seen designers that I know and I 342 00:18:43,320 --> 00:18:45,800 Speaker 1: know what their brand DNA is, and then they've just 343 00:18:45,880 --> 00:18:48,359 Speaker 1: taken the money, the change off the floor and doing 344 00:18:48,359 --> 00:18:50,800 Speaker 1: different licenses and it looks cheap, and you can tell 345 00:18:51,440 --> 00:18:54,440 Speaker 1: that it's just like an aberration from what they normally do. 346 00:19:05,760 --> 00:19:08,359 Speaker 1: So after the pandemic, Well, first of all, if you 347 00:19:08,359 --> 00:19:11,560 Speaker 1: didn't have e commerce, you'd be in big trouble, right, yeah, 348 00:19:11,800 --> 00:19:15,040 Speaker 1: I mean uh. I was president of the company during 349 00:19:15,080 --> 00:19:19,200 Speaker 1: the eight o nine recession, and we watched our business 350 00:19:19,240 --> 00:19:23,640 Speaker 1: just get hammered overnight after Lehman went down. Our businesses 351 00:19:23,680 --> 00:19:28,280 Speaker 1: down and co sale is contracting. It was so scary 352 00:19:28,480 --> 00:19:31,760 Speaker 1: during that time period. But we had just launched e 353 00:19:31,760 --> 00:19:35,720 Speaker 1: commerce in October of oh seven, and so as I'm 354 00:19:35,760 --> 00:19:39,800 Speaker 1: watching this business contract down, I'm watching e commerce take 355 00:19:39,880 --> 00:19:43,840 Speaker 1: off like a rocket ship. At that point, we were 356 00:19:43,880 --> 00:19:49,320 Speaker 1: about setale selling the North Stroom's and specially stores, and 357 00:19:49,520 --> 00:19:54,440 Speaker 1: we're about direct, but we were watching the commerce. Today 358 00:19:54,440 --> 00:20:00,119 Speaker 1: we're direct and about hotel. You mean that yourself is 359 00:20:00,119 --> 00:20:04,200 Speaker 1: are a customer buying directly from you versus buying from 360 00:20:04,240 --> 00:20:06,879 Speaker 1: Nordstrom that you've sold to Nordstrom? Right? And if I 361 00:20:06,960 --> 00:20:10,199 Speaker 1: go online and I google my name, other brands have 362 00:20:10,320 --> 00:20:13,040 Speaker 1: taken up my Google search words because they want you 363 00:20:13,080 --> 00:20:15,080 Speaker 1: to buy it through them. So I have been screwing 364 00:20:15,119 --> 00:20:18,640 Speaker 1: myself because I haven't had my online marketplace and I'm 365 00:20:18,640 --> 00:20:20,520 Speaker 1: just you know, I'm a small business. We're doing a 366 00:20:20,600 --> 00:20:22,520 Speaker 1: hundred million dollars in business, but I'm still a small 367 00:20:22,560 --> 00:20:26,280 Speaker 1: business and still relatively new, and I have to shift 368 00:20:26,359 --> 00:20:28,880 Speaker 1: this way because you want people buying directly from you. 369 00:20:28,880 --> 00:20:30,880 Speaker 1: You capture their data, you know who they are, even 370 00:20:30,880 --> 00:20:33,159 Speaker 1: if it's on a small scale. And I don't want 371 00:20:33,200 --> 00:20:35,680 Speaker 1: people taking my Google Search terms of buying from somewhere else. 372 00:20:36,160 --> 00:20:38,520 Speaker 1: You want that as a support system, but you want 373 00:20:38,520 --> 00:20:42,239 Speaker 1: to get people direct and it's so impactful, especially at 374 00:20:42,240 --> 00:20:46,080 Speaker 1: a time where stores are shut, restaurants are shut, and 375 00:20:46,119 --> 00:20:48,040 Speaker 1: the only way people are able to interact with you 376 00:20:48,400 --> 00:20:51,720 Speaker 1: is online, and so you better be crystal clear on 377 00:20:51,920 --> 00:20:54,760 Speaker 1: your messaging during that time period so that people can 378 00:20:54,800 --> 00:20:58,280 Speaker 1: still see, hey, uh, we're relevant. And there was a 379 00:20:58,320 --> 00:21:01,800 Speaker 1: huge shift that during COVID, where we have a terrific 380 00:21:02,160 --> 00:21:06,399 Speaker 1: women's dress business, a terrific women's swimwear business, but not 381 00:21:06,560 --> 00:21:09,639 Speaker 1: during COVID. During COVID those two categories, but you know 382 00:21:09,640 --> 00:21:11,960 Speaker 1: who's buying new swimwear because you can't go anywhere but 383 00:21:12,040 --> 00:21:15,120 Speaker 1: your backyard. What's booming right now is cover ups and 384 00:21:15,440 --> 00:21:18,440 Speaker 1: we're locked and loaded from cover ups because we talked 385 00:21:18,480 --> 00:21:21,960 Speaker 1: about it last summer. It's like, hey, we come out 386 00:21:22,000 --> 00:21:24,560 Speaker 1: of this, every woman in America is going to be 387 00:21:24,640 --> 00:21:27,800 Speaker 1: buying swimwear. I mean, and this is the truth of COVID. 388 00:21:28,119 --> 00:21:31,199 Speaker 1: We either got bigger or smaller. Nobody says the same, okay, 389 00:21:31,320 --> 00:21:34,119 Speaker 1: and so everybody's gonna be buying clothes to go somewhere. 390 00:21:34,920 --> 00:21:37,760 Speaker 1: Business has had to decide and still have to decide. 391 00:21:37,760 --> 00:21:40,320 Speaker 1: Now you're still in a holding pattern. So what do 392 00:21:40,359 --> 00:21:42,440 Speaker 1: you do? Do you get stunned, do you have anxiety, 393 00:21:42,560 --> 00:21:45,320 Speaker 1: do you become stunted, or do you you know, pick 394 00:21:45,359 --> 00:21:48,040 Speaker 1: yourself up from your bootstraps and figure it out, which 395 00:21:48,080 --> 00:21:50,520 Speaker 1: is what big companies do. And that's the responsibility was 396 00:21:50,560 --> 00:21:53,040 Speaker 1: on you. I mean, you have to delegate to everybody 397 00:21:53,080 --> 00:21:54,760 Speaker 1: else what the hell is going to go on? I mean, 398 00:21:55,119 --> 00:21:58,159 Speaker 1: I'm sure you're stressed out beyond belief in the beginning, 399 00:21:58,240 --> 00:22:02,360 Speaker 1: and so now you're still shifting right If anything, During COVID, 400 00:22:02,800 --> 00:22:04,919 Speaker 1: you know, all business were the same. We were faced 401 00:22:04,960 --> 00:22:08,040 Speaker 1: with the biggest business problems all at once. We had 402 00:22:08,040 --> 00:22:12,200 Speaker 1: personnel problems, we had loss of sales. All of a sudden, 403 00:22:12,560 --> 00:22:15,600 Speaker 1: you're forced with trying to predict not just what's going 404 00:22:15,640 --> 00:22:17,920 Speaker 1: to happen today, but what's going to happen in nine 405 00:22:17,960 --> 00:22:21,120 Speaker 1: to twelve months. Because a company like ours, we plan 406 00:22:21,200 --> 00:22:24,240 Speaker 1: our inventories six to nine months in the future. We 407 00:22:24,280 --> 00:22:26,680 Speaker 1: have to get it on order. And so you're you've 408 00:22:26,720 --> 00:22:30,080 Speaker 1: got hundreds of millions of dollars that you're having to 409 00:22:30,960 --> 00:22:36,120 Speaker 1: bet what's going to happen project, and everyone knows. Nobody 410 00:22:36,160 --> 00:22:39,119 Speaker 1: could tell you. And so when you were asking the 411 00:22:39,200 --> 00:22:42,119 Speaker 1: question about, hey, trust your gut, you know, this is 412 00:22:42,160 --> 00:22:47,080 Speaker 1: where experience came in huge because of what I saw 413 00:22:47,160 --> 00:22:50,399 Speaker 1: happen in O eight o nine, because this was a 414 00:22:50,440 --> 00:22:54,159 Speaker 1: giant recession in my opinion, that you had to shift, 415 00:22:54,200 --> 00:22:55,879 Speaker 1: you had to change the way you were going to 416 00:22:55,920 --> 00:23:00,640 Speaker 1: be doing things, and we made huge beads that are 417 00:23:00,640 --> 00:23:03,200 Speaker 1: going to pay off just because, like I said, I'm 418 00:23:03,320 --> 00:23:05,919 Speaker 1: very bullish. On the other side, I think that our guests, 419 00:23:06,000 --> 00:23:09,399 Speaker 1: especially still has money. I think that they're going to 420 00:23:09,480 --> 00:23:11,959 Speaker 1: come out of this not just in a good place. 421 00:23:12,200 --> 00:23:15,320 Speaker 1: They're hungry for their lives back, and they're going to 422 00:23:15,440 --> 00:23:17,959 Speaker 1: travel and people are going to get together. People are 423 00:23:17,960 --> 00:23:22,040 Speaker 1: going to be busting out. So plan your businesses accordingly, 424 00:23:22,080 --> 00:23:24,040 Speaker 1: and also your saying, See, I always say that the 425 00:23:24,080 --> 00:23:27,320 Speaker 1: mistakes that I made back then, and when you started there, 426 00:23:27,320 --> 00:23:28,960 Speaker 1: you were still running a major company. So you don't 427 00:23:28,960 --> 00:23:30,280 Speaker 1: want to make a lot of mistakes in oh eight 428 00:23:30,320 --> 00:23:32,560 Speaker 1: and oh nine. But the mistakes that you make when 429 00:23:32,600 --> 00:23:37,760 Speaker 1: you're starting out are helpful and really guide you and 430 00:23:38,000 --> 00:23:41,719 Speaker 1: educate you on when the stakes are bigger later. So 431 00:23:41,800 --> 00:23:44,159 Speaker 1: because of all this institutional knowledge, and that's why I 432 00:23:44,160 --> 00:23:46,760 Speaker 1: always say, whatever job you have, it could have nothing 433 00:23:46,800 --> 00:23:48,600 Speaker 1: to do with what you're doing. Now. You've had many 434 00:23:48,640 --> 00:23:51,919 Speaker 1: you were boeing, you've been and sell your company that 435 00:23:52,400 --> 00:23:55,399 Speaker 1: you've been in very many different businesses. The point is 436 00:23:55,680 --> 00:23:58,760 Speaker 1: you never know where that's going to take you, and 437 00:23:58,840 --> 00:24:00,720 Speaker 1: have the knowledge from a path business is going to 438 00:24:00,720 --> 00:24:02,919 Speaker 1: help you. When younger kids are saying, oh, we're never 439 00:24:02,960 --> 00:24:04,800 Speaker 1: gonna need this, I don't need to learn that we're 440 00:24:04,800 --> 00:24:06,879 Speaker 1: never gonna need this, or people are in some weird 441 00:24:06,960 --> 00:24:09,200 Speaker 1: job where they don't feel like they should be there. 442 00:24:09,240 --> 00:24:11,600 Speaker 1: I always say everything is your business. Do everything to 443 00:24:11,640 --> 00:24:14,680 Speaker 1: the best of your ability, because the mistakes, the learning, 444 00:24:15,000 --> 00:24:18,520 Speaker 1: uh experiences you have will pay off later when you 445 00:24:18,600 --> 00:24:20,880 Speaker 1: really bulls eye where you need to be. Because right now, 446 00:24:20,920 --> 00:24:23,960 Speaker 1: Douglas is talking about billions of dollars of business like 447 00:24:24,080 --> 00:24:26,440 Speaker 1: you have major decisions to make, and all of the 448 00:24:26,520 --> 00:24:30,480 Speaker 1: knowledge from Boeing and from your childhood and from businesses, 449 00:24:30,680 --> 00:24:33,000 Speaker 1: and from your life and your marriage come into play 450 00:24:33,040 --> 00:24:35,600 Speaker 1: now in a pandemic when people are trying to bet 451 00:24:35,640 --> 00:24:39,560 Speaker 1: on what's going to happen, And the overall rule and 452 00:24:40,200 --> 00:24:44,240 Speaker 1: advice is to take a minute, collect yourself, be stuck 453 00:24:44,240 --> 00:24:46,480 Speaker 1: for a second, and then decide how are you going 454 00:24:46,560 --> 00:24:49,679 Speaker 1: to take that football into the end zone? Absolutely? You know. 455 00:24:49,720 --> 00:24:53,920 Speaker 1: The other thing, Bethany, that I can't say this enough 456 00:24:54,119 --> 00:24:58,800 Speaker 1: is look, Tai Bahama is owned by a very strong 457 00:24:58,840 --> 00:25:02,560 Speaker 1: holding company, Oxford. It into the trees. First day that 458 00:25:02,640 --> 00:25:06,679 Speaker 1: this happened, we sat down and we talked about, Hey, 459 00:25:06,720 --> 00:25:08,560 Speaker 1: this is a cash game. We got to make sure 460 00:25:08,600 --> 00:25:10,359 Speaker 1: that we have the money to get through to the 461 00:25:10,400 --> 00:25:16,440 Speaker 1: other side, and we got to conserve cash just as important, Hey, 462 00:25:17,200 --> 00:25:19,480 Speaker 1: you better have a brand on the other side. So 463 00:25:19,600 --> 00:25:23,119 Speaker 1: how you treat your brand during the pandemic. You have 464 00:25:23,160 --> 00:25:26,000 Speaker 1: to protect the realm when it's good, when it's bad. 465 00:25:26,040 --> 00:25:28,800 Speaker 1: It's like a relationship. It goes through ebbs and flows. 466 00:25:28,800 --> 00:25:31,960 Speaker 1: It gets stressful, and that if you're true entrepreneur whether 467 00:25:32,000 --> 00:25:34,000 Speaker 1: you work within a corporate structure or you're running your 468 00:25:34,000 --> 00:25:38,159 Speaker 1: own business, you have to understand that number one is 469 00:25:38,160 --> 00:25:41,480 Speaker 1: hard work. Number one is hard work. Look at the board, 470 00:25:42,040 --> 00:25:45,880 Speaker 1: be strategic, Cooler minds prevail. I swept the small stuff, 471 00:25:45,920 --> 00:25:48,679 Speaker 1: but when the big stuff happened, I'm organized, collected, And 472 00:25:48,720 --> 00:25:51,240 Speaker 1: when a crisis happens, I can you know rally. And 473 00:25:51,280 --> 00:25:53,760 Speaker 1: that's really important if you're thinking about running a brand, 474 00:25:53,840 --> 00:25:56,960 Speaker 1: or getting into business or having a serious, high pressure job. 475 00:25:57,240 --> 00:26:01,000 Speaker 1: And well, what is the most challenging part of running 476 00:26:01,080 --> 00:26:03,919 Speaker 1: a business for you? If I know what mine is, 477 00:26:03,960 --> 00:26:07,080 Speaker 1: but I'll tell you mine after. It's people. I mean, 478 00:26:07,160 --> 00:26:10,439 Speaker 1: it's actually making sure that you have the best people 479 00:26:11,200 --> 00:26:14,359 Speaker 1: and managing people. Now, isn't it to pay? Managing people 480 00:26:14,440 --> 00:26:19,080 Speaker 1: is challenging to me. Yeah, I actually I love teams. 481 00:26:19,240 --> 00:26:21,600 Speaker 1: I mean that's probably how I got in doing this 482 00:26:21,640 --> 00:26:25,760 Speaker 1: in the first place. I love assembling a team knowing 483 00:26:25,840 --> 00:26:29,040 Speaker 1: that people come with strengths, people come with weaknesses. Do 484 00:26:29,080 --> 00:26:31,840 Speaker 1: you run a company like Tommy Bahama. You've got a 485 00:26:31,840 --> 00:26:35,200 Speaker 1: lot of plates that are spinning, and you can't keep 486 00:26:35,240 --> 00:26:38,320 Speaker 1: them spinning yourself, and so you better damn well go 487 00:26:38,359 --> 00:26:41,920 Speaker 1: out and get the very best people that hey, we're 488 00:26:41,960 --> 00:26:44,159 Speaker 1: all on the same page. So making sure that you 489 00:26:44,240 --> 00:26:47,760 Speaker 1: have a clear mission, the clear vision values that we 490 00:26:47,840 --> 00:26:51,080 Speaker 1: all make decisions by. Once the rocket ship starts to fly, 491 00:26:51,200 --> 00:26:53,040 Speaker 1: you're building a while it's flying, and it's hard to 492 00:26:53,040 --> 00:26:55,720 Speaker 1: stop down, like okay, right now, I have to get 493 00:26:55,760 --> 00:26:59,080 Speaker 1: my team together and assemble one because you're already in motion. 494 00:26:59,560 --> 00:27:02,359 Speaker 1: So it's hard to stop down. And I've found that 495 00:27:02,400 --> 00:27:04,639 Speaker 1: I like find people along the way, which is not 496 00:27:04,720 --> 00:27:06,439 Speaker 1: the best easiest way to do it, Like you have 497 00:27:06,520 --> 00:27:09,400 Speaker 1: to sort of take the breath to get it all together, 498 00:27:09,480 --> 00:27:12,199 Speaker 1: otherwise you're sort of piecemealing it. And then you need 499 00:27:12,240 --> 00:27:14,679 Speaker 1: to understand how to delegate to these people so they 500 00:27:14,680 --> 00:27:18,000 Speaker 1: can exitu. You need to be organized. So managing people 501 00:27:18,040 --> 00:27:20,640 Speaker 1: and running a business is challenging in that regard because 502 00:27:20,640 --> 00:27:22,960 Speaker 1: if you're a true entrepreneur like I am, and you 503 00:27:23,000 --> 00:27:25,240 Speaker 1: work within a corporate structure, I'm more like, let's go 504 00:27:25,280 --> 00:27:27,359 Speaker 1: do that, let's do this, let's do that. It's hard 505 00:27:27,440 --> 00:27:29,159 Speaker 1: to stop down and be like, Okay, how do I 506 00:27:29,240 --> 00:27:33,359 Speaker 1: be corporate about this? You know, and things are always moving, 507 00:27:33,400 --> 00:27:35,760 Speaker 1: Like I was going to ask you how you're how 508 00:27:35,880 --> 00:27:38,600 Speaker 1: you're keeping up with the young kids you know TikTok, 509 00:27:38,720 --> 00:27:41,280 Speaker 1: the younger generation. You're right, there's a huge divide with 510 00:27:41,400 --> 00:27:44,000 Speaker 1: what's going on right now. And I won't say that 511 00:27:44,040 --> 00:27:47,000 Speaker 1: I'm keeping up with TikTok. I'm trying to learn about TikTok. 512 00:27:47,359 --> 00:27:50,760 Speaker 1: And you know, a really smart person about three years 513 00:27:50,760 --> 00:27:53,719 Speaker 1: said something to me and I it's just stuck. And 514 00:27:53,760 --> 00:27:56,320 Speaker 1: it's like, hey, Doug, you may be talking to forty 515 00:27:56,800 --> 00:28:00,960 Speaker 1: in uh, but they're living in the eighteen the thirty 516 00:28:01,000 --> 00:28:03,919 Speaker 1: year old world. But young Tiktoker's reach out to me 517 00:28:04,480 --> 00:28:07,560 Speaker 1: because their mothers are big fans of mine and say 518 00:28:07,600 --> 00:28:10,199 Speaker 1: to them, do what she did. So I have this 519 00:28:10,320 --> 00:28:14,119 Speaker 1: weird universe where I'm speaking to eighteen year olds and 520 00:28:14,280 --> 00:28:17,320 Speaker 1: fifty year olds. So it matters, and it matters in 521 00:28:17,359 --> 00:28:19,639 Speaker 1: your stores, I guess in restaurants because they're coming in 522 00:28:19,640 --> 00:28:22,400 Speaker 1: with their moms and dad. So it's like an interesting 523 00:28:22,480 --> 00:28:25,159 Speaker 1: world where you have to just be aware that's not 524 00:28:25,200 --> 00:28:27,040 Speaker 1: your target audience. But you have to be aware in 525 00:28:27,400 --> 00:28:31,399 Speaker 1: whatever business and understand that change is happening whether you 526 00:28:31,440 --> 00:28:34,080 Speaker 1: want it or not, and so you better be adapting 527 00:28:34,240 --> 00:28:39,560 Speaker 1: your business practices. And right now that's really getting your 528 00:28:39,600 --> 00:28:44,240 Speaker 1: business focused on digital and social. But making sure that 529 00:28:44,520 --> 00:28:47,520 Speaker 1: you're putting those checkpoints in place so that, as you 530 00:28:47,520 --> 00:28:50,480 Speaker 1: said earlier, hey, you don't lose control of your brand. 531 00:28:50,840 --> 00:28:53,040 Speaker 1: And I'll tell you that's one of the hardest things 532 00:28:53,040 --> 00:28:57,120 Speaker 1: to do right now, because people want to be involved 533 00:28:57,280 --> 00:29:01,120 Speaker 1: with your brand every second of the day a and 534 00:29:01,360 --> 00:29:03,520 Speaker 1: at the same time, you're trying to keep it within 535 00:29:03,680 --> 00:29:06,440 Speaker 1: some level of hey, this is what we're about, but 536 00:29:06,520 --> 00:29:08,920 Speaker 1: they're making it their own, and you've got to allow 537 00:29:09,000 --> 00:29:12,120 Speaker 1: that creativity and allow people to make it their own. 538 00:29:12,400 --> 00:29:15,520 Speaker 1: But as their brand message, you're basically putting out, hey, 539 00:29:15,640 --> 00:29:18,560 Speaker 1: we're keeping it here. It's wonderful some of them, Bethany. 540 00:29:18,600 --> 00:29:21,480 Speaker 1: I mean the videos that are made about your your 541 00:29:21,520 --> 00:29:23,560 Speaker 1: brand that you have nothing to do with, you know, 542 00:29:23,880 --> 00:29:26,480 Speaker 1: songs or songs about Tommy bohamma, I have nothing to 543 00:29:26,520 --> 00:29:28,640 Speaker 1: do with those. All of a sudden, somebody saying, if 544 00:29:28,680 --> 00:29:31,320 Speaker 1: you've heard this song, it's it's out the internet right now. 545 00:29:31,840 --> 00:29:34,360 Speaker 1: Oh my god, here you kidne me and you have 546 00:29:34,400 --> 00:29:36,120 Speaker 1: to listen to that. People have to listen to that 547 00:29:36,120 --> 00:29:39,000 Speaker 1: because you will shift and pivot according to the temperature 548 00:29:39,000 --> 00:29:41,240 Speaker 1: and the weather outside. You can't be too stuck to 549 00:29:41,280 --> 00:29:44,120 Speaker 1: your own idea where you're not flexible. You want to 550 00:29:44,120 --> 00:29:46,800 Speaker 1: know what the core nucleus of your brand is, but 551 00:29:46,880 --> 00:29:48,920 Speaker 1: you have to look at what's going on outside and 552 00:29:49,000 --> 00:29:51,000 Speaker 1: decide whether you know that could be a great idea. 553 00:29:51,040 --> 00:29:53,200 Speaker 1: I mean, Stacy's pea Chips, I talk about it all 554 00:29:53,200 --> 00:29:56,200 Speaker 1: the time, was a sandwich store and there left over 555 00:29:56,280 --> 00:29:58,400 Speaker 1: bread was what became the pea chips. So you had 556 00:29:58,440 --> 00:30:01,320 Speaker 1: to shift and go where the sharre because that was 557 00:30:01,320 --> 00:30:03,120 Speaker 1: where they ended up making their money. You can't just say, no, 558 00:30:03,160 --> 00:30:04,880 Speaker 1: we're just sandwiches. We don't care about the fact that 559 00:30:04,880 --> 00:30:07,719 Speaker 1: we're selling more peda chips. You have to go, you know, 560 00:30:07,840 --> 00:30:10,560 Speaker 1: go with that flow. Well, the last question I want 561 00:30:10,560 --> 00:30:15,200 Speaker 1: to ask you is, um, what is the most lucrative 562 00:30:15,280 --> 00:30:18,920 Speaker 1: part of your business? Well, right now it's still the 563 00:30:18,960 --> 00:30:23,600 Speaker 1: men's and women's apparel. Apparel the core of our businesses fashion, 564 00:30:24,160 --> 00:30:27,080 Speaker 1: and then it goes into channels of how do we 565 00:30:27,120 --> 00:30:29,959 Speaker 1: get that message out? And now it's e commerce And 566 00:30:30,040 --> 00:30:33,200 Speaker 1: we had this new concept methony because we did restaurants 567 00:30:34,040 --> 00:30:37,360 Speaker 1: and we did big restaurant and they're successful and they 568 00:30:37,400 --> 00:30:40,240 Speaker 1: do a great job from not just elevating the brand 569 00:30:40,680 --> 00:30:44,480 Speaker 1: but also selling the product in the store. Well, even 570 00:30:44,520 --> 00:30:46,480 Speaker 1: if you don't make as much money on that. It's 571 00:30:46,480 --> 00:30:50,480 Speaker 1: a flagship store advertising the lifestyle, and people need to 572 00:30:50,520 --> 00:30:53,200 Speaker 1: understand that it's not always about making the most money. 573 00:30:53,480 --> 00:30:56,200 Speaker 1: Like I made sure that I took less money on 574 00:30:56,280 --> 00:30:59,200 Speaker 1: house Wets one season, but was allowed to do Shark 575 00:30:59,280 --> 00:31:02,600 Speaker 1: Tank because Shark Tank allows me to broaden my brand. 576 00:31:02,920 --> 00:31:05,640 Speaker 1: So that's an example of looking at the bigger picture. 577 00:31:05,680 --> 00:31:08,280 Speaker 1: The first season of Housewives, I took basically no money 578 00:31:08,320 --> 00:31:13,240 Speaker 1: in exchange for them not taking any of my future earnings. 579 00:31:13,440 --> 00:31:18,160 Speaker 1: Meaning you make small decisions to affect the larger picture. 580 00:31:18,640 --> 00:31:22,800 Speaker 1: So your restaurants are commercials. Also in addition to selling, 581 00:31:22,800 --> 00:31:24,920 Speaker 1: you're not just selling food and beverage, just selling a 582 00:31:24,960 --> 00:31:27,800 Speaker 1: lifestyle and experience, which is what reflects the wh for 583 00:31:27,800 --> 00:31:30,760 Speaker 1: for us, the restaurants do three things. First of all, 584 00:31:30,800 --> 00:31:34,160 Speaker 1: people come in expecting it to be Margaritaville and they 585 00:31:34,200 --> 00:31:37,080 Speaker 1: find out it's much better, and so I have executive 586 00:31:37,120 --> 00:31:40,600 Speaker 1: chef and every one of our restaurants. Second thing, uh, 587 00:31:40,680 --> 00:31:43,200 Speaker 1: you know online someone's been six minutes with me and 588 00:31:43,240 --> 00:31:45,960 Speaker 1: a retail store, they might spend fourteen minutes. When I 589 00:31:46,000 --> 00:31:48,200 Speaker 1: have a restaurant with a retail store, I get them 590 00:31:48,240 --> 00:31:50,480 Speaker 1: for an hour and a half and so I'm able 591 00:31:50,560 --> 00:31:54,320 Speaker 1: to basically show them the entire brand. And then I 592 00:31:54,360 --> 00:32:01,800 Speaker 1: have restaurants in really great locations Florida, Arizona, California, Hawaii, 593 00:32:02,080 --> 00:32:05,240 Speaker 1: and you know, when you are in our restaurant, it 594 00:32:05,360 --> 00:32:08,360 Speaker 1: takes you to an emotional place and usually you're with 595 00:32:08,400 --> 00:32:11,320 Speaker 1: many loved ones and that hey, that's a special night. 596 00:32:11,680 --> 00:32:13,920 Speaker 1: It's also the number one place where I'm able to 597 00:32:14,120 --> 00:32:17,440 Speaker 1: gather names so I can market to you later, which 598 00:32:17,480 --> 00:32:19,840 Speaker 1: is also a big piece of what we do. Know. 599 00:32:20,120 --> 00:32:23,400 Speaker 1: That's that's a big note for people to be collecting data. 600 00:32:23,480 --> 00:32:26,280 Speaker 1: You want to capture people. I've made not this mistake, 601 00:32:26,320 --> 00:32:28,280 Speaker 1: but I haven't been so savvy about that. And you 602 00:32:28,280 --> 00:32:30,600 Speaker 1: have to know what you know don't know, and that's 603 00:32:30,640 --> 00:32:34,120 Speaker 1: not my greatest strength. And you have to be capturing data. Basically, 604 00:32:34,160 --> 00:32:36,520 Speaker 1: you have to be looking at the whole board. And 605 00:32:36,840 --> 00:32:39,320 Speaker 1: I guess the takeaway is that there are many different 606 00:32:39,480 --> 00:32:42,560 Speaker 1: ways to do business and many different reasons to do business, 607 00:32:42,640 --> 00:32:44,680 Speaker 1: and you have to sort of let it live and breathe. 608 00:32:44,760 --> 00:32:47,600 Speaker 1: And truthfully, your whole brand is about relaxing. And I 609 00:32:47,640 --> 00:32:50,640 Speaker 1: do feel that the best ideas come when you're a 610 00:32:50,680 --> 00:32:53,080 Speaker 1: little bit relaxed, not in such a high pressure cooker. 611 00:32:53,120 --> 00:32:54,760 Speaker 1: Sometimes you have to sit back and look at the 612 00:32:54,760 --> 00:32:57,920 Speaker 1: whole board. Well, you've done an amazing job. You've built 613 00:32:57,960 --> 00:33:00,640 Speaker 1: a great brand that keeps thriving. Wish you the best 614 00:33:00,680 --> 00:33:10,280 Speaker 1: with the brand. Thank you every day. Fine. So that 615 00:33:10,400 --> 00:33:13,920 Speaker 1: was the CEO of Tommy Bahama, which is undeniably a strong, 616 00:33:14,040 --> 00:33:18,640 Speaker 1: strong brand that has been known for the relaxed man. 617 00:33:18,760 --> 00:33:21,400 Speaker 1: And to have to shift and pivot to be marketed 618 00:33:21,440 --> 00:33:25,320 Speaker 1: to women is no small feet. And I have different 619 00:33:25,360 --> 00:33:29,720 Speaker 1: types of people on here to illustrate how different businesses 620 00:33:29,760 --> 00:33:35,080 Speaker 1: function and operate, and how business leaders make decisions during 621 00:33:35,120 --> 00:33:38,600 Speaker 1: times of stress, but also how not everything is about money, 622 00:33:39,080 --> 00:33:43,680 Speaker 1: how sometimes you have to make difficult decisions and take 623 00:33:43,800 --> 00:33:48,240 Speaker 1: chances and shift your business based on the times. And 624 00:33:48,440 --> 00:33:55,200 Speaker 1: you can find inspiration and practical solution tactics in so 625 00:33:55,240 --> 00:33:58,840 Speaker 1: many different places. So just listen to these entrepreneurs. They 626 00:33:58,840 --> 00:34:00,680 Speaker 1: may not have businesses like you, they may not have 627 00:34:00,880 --> 00:34:03,400 Speaker 1: had a background like you, and they may not be 628 00:34:03,480 --> 00:34:05,960 Speaker 1: dealing with anything that's similar to what you're dealing with, 629 00:34:06,400 --> 00:34:09,160 Speaker 1: but all business is really the same, and all these 630 00:34:09,160 --> 00:34:11,880 Speaker 1: decisions can work on a small or a larger scale, 631 00:34:11,880 --> 00:34:13,440 Speaker 1: and I try to kind of give you as much 632 00:34:13,440 --> 00:34:16,080 Speaker 1: takeaway as possible and bring it all back to you 633 00:34:16,440 --> 00:34:19,319 Speaker 1: because it doesn't matter someone selling Hawaiian shirt or toothpaste. 634 00:34:19,800 --> 00:34:22,879 Speaker 1: It's still about business and it still could affect you 635 00:34:23,000 --> 00:34:25,719 Speaker 1: and your business and your personal life. So that's sort 636 00:34:25,719 --> 00:34:27,960 Speaker 1: of why I have many different types of people on here, 637 00:34:28,000 --> 00:34:32,479 Speaker 1: with many different stories of institutional knowledge. And you could 638 00:34:32,480 --> 00:34:35,919 Speaker 1: have started working at a T and T and at 639 00:34:35,960 --> 00:34:39,440 Speaker 1: Boeing and end up at a relaxed lifestyle brand and 640 00:34:39,520 --> 00:34:48,719 Speaker 1: still have a lot of important information to impart. Just 641 00:34:49,000 --> 00:34:52,360 Speaker 1: Be is hosted an executive produced by me Bethany Frankel. 642 00:34:52,760 --> 00:34:55,680 Speaker 1: Just Be as a production of The Real Productions and 643 00:34:55,840 --> 00:34:59,640 Speaker 1: I Heart Radio. Our managing producer is Fiona Smith and 644 00:34:59,640 --> 00:35:03,800 Speaker 1: our DO Stephanie Stender. Our EP is Morgen Levoy. To 645 00:35:03,920 --> 00:35:06,400 Speaker 1: catch more moments from the show, follow us on Instagram 646 00:35:06,400 --> 00:35:07,640 Speaker 1: and just Be with Bethani